Jan 30, 2011
REORDER POINT FORMULA The reorder point formula allows us to determine the safety stock (SS) needed to achieve a certain cycle service level. In general, the longer the lead times…
CPFR Model As defined by Voluntary Inter-Industry Commerce Standards (VICS) Association Why the Need for a Standard Process Model? The CPFR Process Model CPFR: Key Tenets Why the Need for…
Jan 28, 2011
The dredging industry is at a cross-roads Many of the inland maritime lochs and dams are in a state of disrepair, and require significant long-term upgrades. Similarly, the deepening of…
PERPETUAL SYSTEM p. The two classic systems for managing independent demand inventory are periodic review and perpetual review systems. This section focuses on the Perpetual System. What is a Perpetual…
ECONOMIC ORDER QUANTITY (EOQ) MODEL The economic order quantity (EOQ) is the order quantity that minimizes total holding and ordering costs for the year. Even if all the assumptions don’t…
FUNCTIONS AND DRIVERS OF INVENTORY Inventory serves a useful purpose in the supply chain. That said, firms can help minimize the need for inventory by carefully managing those factors that…
Understanding Legistlation Related to Procurement p. ContractsLaws of AgencyPersonal LiabilityInternational Laws Affecting Global PurchasingContracts vs AgreementsBetsy and Mimi’s Contrac – An EXAMPLE Contracts Contract “A promise or a set of…
PERIODIC REVIEW SYSTEM The two classic systems for managing independent demand inventory are periodic review and perpetual review systems. This section focuses on the Periodic Review System. What is a…
The New Purchasing and Supply Management Workplace Social and Workplace Changes Sourcing Organizational Structures Key Sourcing Organizational Features Integrating the Supply Chain Procurement’s Changing Role Separating Purchasing Authority Sourcing’s New…
The Procurement Process – e-Procurement e-Procurement What is Solicitation? What are Online Reverse Auctions? Benefits of e-Procurement e-Procurement e-Procurement is the term used to describe the automation through web-enabled tools…
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